Blackwater Valley Office Market
1 minute to read
Blackwater Valley (BWV) incorporates the markets of Farnborough, Aldershot, Frimley, Camberley, Fleet and Hook but it will come to no surprise that Farnborough dominates occupier activity in this sub-market. Farnborough’s appeal stems from its swift train connection to central London from Farnborough Main, access to the M3 motorway network and a healthy line-up of aerospace, engineering and technology companies.
Generally speaking, a market like Farnborough should have a thriving town centre and “CBD” office market but development, and consequently occupier activity, in recent years has centred on the business parks – the Frasers Property owned Farnborough Business Park and the multi-ownership Farnborough Aerospace Centre. That said, all the incumbent occupiers of Spectrum Point (adjacent to Farnborough Main Station) have elected to re-structure their leases in the past 12 months and stay put rather than re-locate.
In 2019, Philips decided to consolidate its office operations from Guildford, Basingstoke and Chichester to circa 37,000 sq ft at Farnborough Aerospace, paying circa £29 per sq ft to secure the space. At the time of writing, Siemens are on the cusp of acquiring circa 30,000 sq ft on Farnborough Business Park, moving from Frimley and further establishing Farnborough as the epicentre of occupier demand along the BWV.
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